The key benchmark indices were holding marginal gains in afternoon trades on Tuesday on the back of renewed buying interest in select index heavyweights including Reliance Industries. HDFC Bank, Bharti Airtel and SBI were the other major contributors.
The BSE Sensex was up 254 points at 58,720, and the NSE Nifty had gained 105 points at 17,522. The broader indices continued to outperform with smart gains of 1.7 percent each for the Midcap and Smallcap indices.
The overall market breadth too was extremely positive, with nearly 3 advancing shares for single declining stock on the BSE.
In the broader markets, NRB Bearings soared 12 percent to hit over a two-year high of Rs 171.40 on a strong business outlook. The stock of the company, engaged in the manufacturing of needle roller bearings, has surged 25 percent in the past four trading days.
Shares of Lyka Labs were locked at the upper circuit for the second straight day, up 5 percent at Rs 129.15, also its 52-week high on the BSE on Tuesday, after Ipca Laboratories bought 1 million shares of pharmaceuticals company via open market deals.
Other prominent gainers include stocks like Raymond, TCNS Clothing, Aptech, Glenmark, Gateway Distriparks, Neogen Chemicals, Fino Payments Bank, Lovable Lingerie, Jindal Worldwide, Paytm and HSIL.
Meanwhile, the European markets have started the day on a dismal note. DAX 30 and CAC 40 have plunged 1.3 percent each, while FTSE 100 has slipped 0.6 percent.